Northrop Grumman (NYSE:NOC) had its target price lifted by Robert W. Baird from $300.00 to $364.00 in a research report released on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the aerospace company’s stock.
Several other equities analysts have also commented on NOC. Susquehanna Bancshares upgraded Northrop Grumman from a neutral rating to a positive rating and increased their price objective for the company from $309.00 to $315.00 in a research report on Friday, April 5th. UBS Group restated a buy rating and set a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Barclays restated a buy rating on shares of Netflix in a research report on Thursday, May 16th. ValuEngine upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. Finally, Morgan Stanley set a $18.00 price target on PG&E and gave the stock a hold rating in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Northrop Grumman presently has a consensus rating of Buy and an average target price of $338.24.
Shares of Northrop Grumman stock opened at $329.53 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.18 and a quick ratio of 1.10. The company has a market cap of $55.95 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.32 and a beta of 0.80. The firm’s 50-day moving average price is $316.05. Northrop Grumman has a 12 month low of $223.63 and a 12 month high of $329.61.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.59 by $0.47. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.34 billion. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The company’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the company earned $4.21 EPS. On average, analysts expect that Northrop Grumman will post 19.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Monday, June 3rd were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.60%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. The ex-dividend date was Friday, May 31st. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.75%.
In other Northrop Grumman news, Director Madeleine Kleiner sold 971 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $315.16, for a total value of $306,020.36. Following the completion of the sale, the director now owns 16,675 shares in the company, valued at approximately $5,255,293. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Wesley G. Bush sold 50,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $291.59, for a total value of $14,579,500.00. Following the completion of the sale, the chairman now owns 46,275 shares of the company’s stock, valued at approximately $13,493,327.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,903 shares of company stock worth $15,484,440. 0.45% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Patten Group Inc. lifted its holdings in Northrop Grumman by 1.2% in the 2nd quarter. Patten Group Inc. now owns 2,522 shares of the aerospace company’s stock worth $815,000 after buying an additional 31 shares during the period. SVA Plumb Wealth Management LLC lifted its holdings in Northrop Grumman by 2.5% in the 1st quarter. SVA Plumb Wealth Management LLC now owns 1,433 shares of the aerospace company’s stock worth $386,000 after buying an additional 35 shares during the period. WealthPLAN Partners LLC lifted its holdings in Northrop Grumman by 4.8% in the 1st quarter. WealthPLAN Partners LLC now owns 828 shares of the aerospace company’s stock worth $244,000 after buying an additional 38 shares during the period. First Personal Financial Services lifted its holdings in Northrop Grumman by 6.5% in the 1st quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock worth $177,000 after buying an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC lifted its holdings in Northrop Grumman by 1.5% in the 1st quarter. Princeton Global Asset Management LLC now owns 2,735 shares of the aerospace company’s stock worth $737,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 83.20% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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